The first batch of equipment has been installed and production has started at the Jiangsu Baosteel Precision Steel Wire 1st Phase Project in China's Jiangsu Province, according to Metallurgical Corporation of China Ltd (MCC). A second batch of equipment for the first phase is expected to arrive and to be installed by March this year.
Jiangsu Baosteel Precision Steel Wire 1st Phase Project, invested in by Baosteel Metal which is a subsidiary of Chinese steel giant Baosteel, is located in Jiangsu Haimen Haibao Industrial Park and will mainly produce steel wire products used in automobile tires and in the photovoltaic sector. The project marks Baosteel's formal entry into the high-grade wire rod product field. Construction work is being carried out by MCC subsidiary MCC Tiangong Construction Group (CMTCC Group).
The project will be constructed in two phases. The first phase is expected to produce 50,000 mt of precision steel wire per year, while the second phase will add another 100,000 mt of annual precision steel wire production capacity.